The forecasting properties of survey-based wage-growth expectations

We evaluate survey-based wage-growth expectations and find that they are neither unbiased nor efficient forecasts. Concerning out-of-sample forecast precision, survey participants generally perform worse than a constant forecast. Caution should accordingly be exercised when relying on these data for policymaking.

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Year of publication:	2011
Authors:	Jonsson, Thomas ; Österholm, Pär
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 113.2011, 3, p. 276-281
Publisher:	Elsevier
Subject:	Survey data \| Forecasts \| Sweden \| Monetary policy

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Type of publication:	Article
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; J30 - Wages, Compensation, and Labor Costs. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011041691